Lyon: BofA Securities lowered the target price of BYD Electronic (00285.HK) to HKD 48 and maintained an "outperform" rating.

According to the Wise Finance APP, Lyon released a research report stating that BYD Electronic (00285.HK) will be affected by changes in metal casing materials for American customers and a slowdown in BYD's car shipments in the third and fourth quarters of 2025. However, the bank expects its metal casing business to experience strong growth in 2026, driven mainly by foldable titanium alloy phone casings, while shipments of liquid cooling systems and high-voltage DC modules will drive breakthroughs in the artificial intelligence server business. The bank believes that BYD Electronic will continue to achieve sustainable growth through multiple driving factors. The bank maintains a "outperform the market" rating, but has lowered profit forecasts for 2025-2027 by 8%, 9%, and 10%, with the target price lowered from HK$52.9 to HK$48.